Cement prices up Rs 3 a bag, projects’ costs to rise, India
Within a month of the government demanding an explanation from the country’s cement manufacturers for exorbitant rise in prices, cement rates have been hiked again, making it fifth hike in last six months. Dealers in Mumbai, the biggest cement market, confirmed to FE that prices per 50 kg bag of the construction material have been hiked by Rs 3, from Rs 225-240 range to Rs 228-243 from Saturday last.
Cement companies last month had assured the government “to maintain the current price level and not to increase cement prices in the near future.” When contacted, a senior official in the commerce ministry said, “The manufacturers never said that they will not hike prices. They said they will keep a check on prices and if they hike, it will be a reasonable one.” Published under Cement News
